14/12/2015 - 06:55

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14/12/2015 - 06:55

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Forrest’s shock and ore at big miners’ expansion

Fortescue Metals chairman Andrew Forrest has hit out at rivals Rio and BHP Billiton for continuing to produce iron ore while demand for the commodity is slowing. The Aus

Budget deficit blown to $38b

Revenue-eroding commodity price falls and sluggish wages growth in addition to a near $5 billion jump in spending have punched fresh holes in the federal budget and pushed the likely return to surplus further into next decade. The Fin

SA fires ship-build broadside

South Australia has told WA to keep its hands off Australia’s multibillion-dollar warship and submarine contracts, saying Premier Colin Barnett has missed the boat and was too focused on the mining industry. The West

WA ignores $15b poles and wires windfall

The cash-strapped Western Australian government would raise $8.9 billion (net) – or $15 billion (gross) – by privatising its poles and wires network if it received a similar valuation to the one obtained by NSW. The Fin

Diageo 2015 profit dips to $25.6m, but market share increases

The market leader in spirits, Diageo Australia, which sells brands including Johnnie Walker, Smirnoff, Baileys and Bundaberg Rum, has suffered its third successive drop in annual profit in a market where the power of the two big liquor retailing chains, Woolworths and Coles, is increasingly influential. The Fin

Forrest deal with mansion stay-put makes room for Syrian refugees     

Mining magnate Andrew Forrest will be able to house Syrian refugees at his new $16 million Perth beachfront mansion within months after striking a deal with the elderly resident of the property who had been refusing to move out. The Aus

Cattle push for Onslow port

Leading pastoralists are behind a push to use port facilities at Onslow for live cattle shipments amid lingering doubts about where the industry fits in with iron ore and salt at Port Hedland. The West

 

 

The Australian Financial Review

Page 1: Representatives from almost 200 countries in Paris have signed a historic climate accord aimed at preventing unsafe global temperature rises that would for the first time commit nations to lowering greenhouse gas emissions and could force business to sharply reduce its use of fossil fuels.

Page 2: Tourism Australia is preparing to launch a $40 million marketing campaign touting the fantastic aquatic and coastal experiences on offer in an attempt to better compete against rival destinations like the United States, South Africa and France to attract international tourists.

Page 4: Revenue-eroding commodity price falls and sluggish wages growth in addition to a near $5 billion jump in spending have punched fresh holes in the federal budget and pushed the likely return to surplus further into next decade.

Page 5: Changes to the age pension regime contained in the May budget should be wound back and annual superannuation contributions limits drastically reduced in order to make the retirement system ‘‘more coherent’’ and encourage middle and low income earners to save, a powerful lobby group representing union-backed super funds says.

Page 7: Despite the losses, WA’s grain harvest is being described as an above-average year, with the northern Kwinana zone singled out by grain exporter CBH Group as ‘‘exceptional’’.

Large wholesale mortgage broker AFG has warned that lending requirements designed to cool the Sydney and Melbourne housing markets are hampering other Australian cities in need of property and construction investment.

Page 11: The cash-strapped Western Australian government would raise $8.9 billion (net) – or $15 billion (gross) – by privatising its poles and wires network if it received a similar valuation to the one obtained by NSW.

Page 13: Rio Tinto could sign off on a $US4 billion finance package for its giant Oyu Tolgoi copper and gold project in Mongolia as early as this week.

Page 15: The market leader in spirits, Diageo Australia, which sells brands including Johnnie Walker, Smirnoff, Baileys and Bundaberg Rum, has suffered its third successive drop in annual profit in a market where the power of the two big liquor retailing chains, Woolworths and Coles, is increasingly influential.

Page 18: Foxtel’s advertising sales arm Multi-Channel Network is positioning itself to sell local advertising for global digital video networks as part of its push to cash in on the ongoing explosion in online video consumption.

Page 34: All eight Big Bash League franchises are set to record profits this season, with Cricket Australia budgeting for an aggregate profit of about $4 million across the competition.

 

 

The Australian

Page 1: National Australia Bank chief executive Andrew Thorburn and other senior executives scrambled to reassure coal industry customers that the bank still supported them after NAB took the unusual step of publicly opposing Adani’s $16 billion Carmichael coal project.

Page 2: Unions have reaped $5.4 million from industry super funds over the past two years by giving high-ranking officials spots on governance boards, in a practice slammed as “undesirable” by one of the nation’s leading financial experts.

More than $7 billion in spending cuts have been put at the heart of a budget update tomorrow that will confirm new threats to growth and a damaging blow to tax revenue from the tumbling value of iron ore exports.

Page 5: Mining magnate Andrew Forrest will be able to house Syrian refugees at his new $16 million Perth beachfront mansion within months after striking a deal with the elderly resident of the property who had been refusing to move out.

Page 15: Australian shares are on track for their worst year of returns since 2011, with the broader market set to post an annual loss.

Fortescue Metals chairman Andrew Forrest has hit out at rivals Rio and BHP Billiton for continuing to produce iron ore while demand for the commodity is slowing.

 

 

The West Australian

Page 3: South Australia has told WA to keep its hands off Australia’s multibillion-dollar warship and submarine contracts, saying Premier Colin Barnett has missed the boat and was too focused on the mining industry.

Page 5: Potato growers have stepped up the pressure on Premier Colin Barnett to bring deregulation of the industry forward by almost two years.

Page 9: The Stokes family have revealed plans to boost sales across WA’s fruit and vegetable industry through a long-term commitment to the wholesale markets at Canning Vale.

Page 11: Skyscraper QV1 is set for a $150 million overhaul that could include two new buildings, dubbed QV2 and QV3, and almost 50 per cent more office space.

Business: Leading pastoralists are behind a push to use port facilities at Onslow for live cattle shipments amid lingering doubts about where the industry fits in with iron ore and salt at Port Hedland.

Joint venture partners Quadrant Energy and Santos face off in the Supreme Court for a third time today after failing to settle their lengthy list of grievances.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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